ASIC keen on more audit competition

ASIC would like to see smaller players grow and provide credible alternatives to the big four accounting firms.
Photo: Arsineh Houspian

The corporate watchdog says it is concerned about concentration of large-firm audits at the big four accounting firms and would like to see smaller firms grow and provide credible alternatives. But recent checks of some smaller audit firms by the Australian Securities and Investments Commission have revealed poor performance, Agnes King reports in the AFR accounting section today.